ECONOMICS
posted by Anonymous .
How is the equilibrium price determined?
My Answer: Equilibrium price is determined by demand and supply.
How do shifts in equilibrium price occur?
MY ANSWER: ???????
Respond to this Question
Similar Questions

microeconomics
Use the following to answer questions 13: 1. Refer to the above diagram. If demand changes from D1 to D2 at the same time supply changes from S2 to S1, equilibrium price will: A) rise and equilibrium quantity will fall. C) rise, as … 
weonomics
Original quanity  new quantity . price. quanity supplied demanded demanded 40 12$ 80 45 11$ 75 50 10$ 70 55 9$ 65 60 8$ 60 65 7$ 55 70 6$ 50 75 5$ 45 1. what is the equilibrium price and quanity? 
economics
Suppose the supply and demand for milk is described by the following equations: Qd=600100P, Qs = 150+150P, where P is price in dollars . Qd is quantity demanded in millions of gallons per year. A. Create supply and demand tables … 
Please explain (Math)
The demand equation for a certain brand of GPS Navigator is x + 3p  565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x  16p + 480 = 0, where x is the quantity … 
Math
For the pair of supplyanddemand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. p =  2x + 15 and p = 5x + 1 a. equilibrium … 
Math Help
The demand equation for a certain brand of GPS Navigator is x + 3p  565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x  16p + 480 = 0, where x is the quantity … 
Math Help
For the pair of supplyanddemand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 9p  93 = 0 and 3x  14p + 108 … 
Math Help
The demand equation for a certain brand of GPS Navigator is x + 3p  565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x  16p + 480 = 0, where x is the quantity … 
Math Please Help
The demand equation for a certain brand of GPS Navigator is x + 3p  565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x  16p + 480 = 0, where x is the quantity … 
Math
For the pair of supplyanddemand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 9p  93 = 0 and 3x  14p + 108 …